Milky Mist Dairy Food launches an IPO worth 1,553 crore rupees.

Milky Mist Dairy Food Ltd has set a price band for its IPO at ₹133–140 per share. The total size of the offering will be ₹1,553 crore. The bidding process for investors will begin on August 11 and end on August 13, with the subscription window for anchor investors opening on August 10. This offering will be the largest IPO among Indian dairy companies. It is expected that upon completion of the deal, the company's market capitalization will reach ₹10,310–10,778 crore.

The IPO structure includes a fresh issue of shares worth up to ₹1,428 crore and an offer for sale (OFS) of up to ₹125 crore. The company plans to use the raised funds for debt repayment, as well as for the modernization and expansion of its production site in Perundurai. Specifically, it includes the creation of capacity for producing whey protein concentrate, yogurt, and cream cheese. A portion of the funds will be invested in the development of the logistics network, including the purchase of refrigerated display cases, ice cream freezers, and chocolate coolers.

Milky Mist Dairy Food, founded in Erode (Tamil Nadu), specializes in high-value-added products such as paneer, cheese, curd, yogurt, butter, ghee, and ice cream; the company does not develop the liquid milk segment. Earlier this year, the organization already conducted a pre-IPO funding round worth ₹482 crore with the participation of Jongsong Investments Pte Ltd.

As part of the current offering, 50% of the shares are reserved for qualified institutional buyers, 15% for non-institutional investors, and 35% for retail investors. The issue is managed by JM Financial, Axis Capital, and IIFL Capital Services, with KFin Technologies acting as the registrar.